OGDC Explores Joint Ventures in Libya and Vietnam with Russian and Turkish Partners
Pakistan’s largest oil and gas exploration company, Oil and Gas Development Company Limited (OGDC), is planning a major international expansion by forming joint ventures (JVs) in Libya and Vietnam. The company is in advanced discussions with Russia’s energy giant Gazprom and Turkish Petroleum to explore oil and gas resources in both onshore and offshore blocks.
This strategic move is aimed at diversifying Pakistan’s energy supply, reducing the country’s heavy dependence on imported fuel, and strengthening long-term energy security.
OGDC’s Strategy to Expand Overseas
OGDC has traditionally focused on domestic oil and gas exploration. However, rising energy demand and increasing import costs have pushed the company to look beyond Pakistan’s borders.
By entering international markets such as Libya and Vietnam, OGDC hopes to:
- Secure long-term energy supplies
- Gain access to advanced exploration technology
- Reduce Pakistan’s energy import bill
- Strengthen its position as a regional energy player
Joint Ventures with Gazprom and Turkish Petroleum
According to reports, OGDC is holding advanced talks to form joint ventures with:
- Gazprom (Russia) – one of the world’s largest natural gas companies
- Turkish Petroleum (TPAO) – Turkey’s state-owned oil and gas company
These partnerships are expected to target hydrocarbon exploration in energy-rich regions of Libya and Vietnam.
Why Libya and Vietnam?
Libya: A Resource-Rich Energy Market
Libya holds some of Africa’s largest proven oil reserves and offers strong potential for both onshore and offshore exploration.
Key reasons for choosing Libya include:
- Untapped hydrocarbon potential
- Strategic location near European markets
- Opportunity for long-term energy supply
Vietnam: Growing Energy Demand in Southeast Asia
Vietnam is rapidly expanding its energy sector to support industrial growth.
Reasons for targeting Vietnam include:
- Increasing oil and gas demand
- Offshore exploration opportunities
- Stable investment environment
These markets offer OGDC diversification beyond South Asia.
Learning from the Indian Oil and Gas Model
OGDC is following a strategy already adopted by Indian oil and gas companies, which have successfully secured energy resources by investing abroad.
Indian firms have established joint ventures in:
- Africa
- Middle East
- Southeast Asia
By adopting a similar model, OGDC aims to reduce exposure to global price shocks.
Existing International Experience of OGDC
OGDC already has international exposure.
UAE Offshore Exploration
OGDC, along with other Pakistani firms, is currently involved in offshore oil and gas exploration in the United Arab Emirates.
This experience has helped OGDC:
- Understand international regulatory frameworks
- Work with global partners
- Improve offshore technical skills
Turkish Petroleum’s Growing Role in Pakistan
Turkish Petroleum Overseas Company has recently strengthened its presence in Pakistan.
Eastern Offshore Indus Block-C
Turkish Petroleum acquired a stake in Eastern Offshore Indus Block-C after approval from the Economic Coordination Committee (ECC).
Ownership Structure
- Turkish Petroleum: 25%
- Pakistan Petroleum Limited (PPL): 35%
- Mari Energies: 20%
- OGDC: 20%
Turkish Petroleum has also taken over as the operator of the block, previously managed by PPL.
Benefits of the Eastern Offshore Indus Block Partnership
This partnership is expected to:
- Bring international offshore expertise
- Improve operational efficiency
- Transfer modern drilling technology
- Attract foreign investment
The consortium is preparing for drilling operations, which could significantly boost Pakistan’s offshore energy potential.
Government Support for Offshore Exploration
The Pakistani government has recently awarded 23 offshore exploration blocks to various exploration and production companies.
These blocks are expected to:
- Encourage foreign investment
- Boost domestic energy production
- Reduce reliance on imported fuel
Members of the current consortium are among the recipients of these blocks.
OGDC’s Plan to Replicate JV Model Abroad
OGDC plans to replicate its joint venture model for future projects:
- Onshore exploration
- Offshore drilling
- International partnerships
The company aims to work closely with Turkish and Russian partners in future overseas projects.
Role of New OGDC Management
OGDC’s new management team is focused on:
- Optimizing output from existing fields
- Using modern drilling and recovery technology
- Improving efficiency and cost control
This approach supports both domestic production growth and international expansion.
Technology and Operational Efficiency
Modern technology plays a key role in OGDC’s strategy.
Key focus areas include:
- Enhanced oil recovery techniques
- Advanced seismic data analysis
- Efficient offshore drilling methods
International partnerships help OGDC learn and adopt global best practices.
Pakistan’s Broader Energy Diplomacy
The government of Pakistan is actively engaging with:
- China
- Turkey
- Azerbaijan
- Russia
The goal is to attract investment and technical expertise into Pakistan’s oil and gas sector.
High-Level Turkish Petroleum Visit to Pakistan
Recently, senior officials from Turkish Petroleum visited Pakistan and reviewed offshore geological data.
They expressed strong interest in:
- Eastern Offshore Indus Block-C
- Collaboration with OGDC, PPL, and Mari Energies
- Long-term energy cooperation
How These JVs Strengthen Pakistan’s Energy Security
If successful, these international joint ventures could:
- Secure long-term energy supplies
- Reduce foreign exchange pressure
- Stabilize domestic fuel prices
- Strengthen Pakistan’s energy independence
Economic Impact of OGDC’s Overseas Expansion
OGDC’s international projects could have wide economic benefits:
- Lower energy import costs
- Improved balance of payments
- Increased investor confidence
- Enhanced technical capacity
Challenges and Risks
Despite the potential benefits, challenges remain:
- Political risks in overseas markets
- Regulatory complexities
- High exploration costs
However, partnerships with experienced global firms reduce these risks.
What to Expect Next?
In the coming months, stakeholders can expect:
- Formal JV agreements
- Exploration timelines
- Investment announcements
- Drilling activity updates
Conclusion
OGDC’s plan to explore joint ventures in Libya and Vietnam with Russian and Turkish partners marks a major step in Pakistan’s energy strategy.
By expanding internationally, adopting global best practices, and partnering with experienced energy companies, OGDC aims to secure energy resources, reduce imports, and strengthen Pakistan’s energy security.
If successful, this strategy could reshape Pakistan’s oil and gas sector in 2026 and beyond.
OGDC International JV FAQs – Complete Guide (2026)
What is OGDC planning overseas?
OGDC is planning joint ventures for oil and gas exploration in Libya and Vietnam.
Which companies are OGDC’s partners?
Russia’s Gazprom and Turkey’s Turkish Petroleum.
Why is OGDC expanding internationally?
To diversify energy supplies and reduce Pakistan’s energy import bill.
What is Eastern Offshore Indus Block-C?
An offshore exploration block in Pakistan involving OGDC, PPL, Mari Energies, and Turkish Petroleum.
How will these JVs benefit Pakistan?
They can improve energy security and attract foreign investment.
